{
  "title": "IMF at COP29",
  "sourceUrl": "https://www.imf.org/en/topics/climate-change/cop29",
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  "summary": "The IMF is sharing a pavilion at COP29 in Baku, Azerbaijan, this year with the World Bank Group and the Financial Times to create opportunities for dialogue and knowledge sharing.",
  "sections": [
    {
      "heading": "Pavilion purpose and policy focus",
      "content": "- The IMF is sharing a pavilion at COP29 in Baku, Azerbaijan, with the World Bank Group and the Financial Times to create opportunities for dialogue and knowledge sharing.\n- The IMF will promote economic and financial sector policies to help members and the wider international community reach shared climate goals such as:\n  - reducing emissions,\n  - increasing climate finance,\n  - boosting resilience,\n  - easing the transition to low-carbon economies."
    },
    {
      "heading": "Pavilion program — overview of events and themes (dates and times preserved)",
      "content": "- November 12, 2024 — 10:00 AM - 10:45 AM (GMT+4)\n  - Session: \"This Critical Decade: A Wake-up Call for Global Climate Action\"\n  - Focus: urgent action to cut greenhouse gas (GHG) emissions; countries will set new emissions targets for 2035 while revising their 2030 targets; current Nationally Determined Contributions only reducing global emissions by one quarter of what’s needed; risk of an “emissions cliff edge” that could put the target of 1.5°C beyond reach.\n  - Panelists: Ruud de Mooij; Ana Toni; Tinne Van der Straeten. Moderator: Will Kennedy.\n  - Essential reading highlighted: \"Sleepwalking to the Cliff Edge?: A Wake-up Call for Global Climate Action\".\n- November 12, 2024 — 5:00 PM - 5:45 PM (GMT+4)\n  - Session: \"The Role for the Bretton Woods Institutions in Climate Action\"\n  - Focus: reflections on the Bretton Woods institutions at their 80th anniversary and scaling up climate-related actions and financing.\n  - Panelists: Mark Malloch Brown; Andrew Steer; Helen Mountford; Amal-Lee Amin. Moderator: James Astill.\n- November 12, 2024 — 6:15 PM - 7:00 PM (GMT+4)\n  - Session: \"Unlocking Financing for the Green Transition in Emerging and Developing Economies\"\n  - Focus: market reforms and financial sector policies to attract official financing and FDI for low-carbon technologies; domestic policies to enhance government revenue for renewable energy; role of Just Energy Transition Partnerships, public-private partnerships, blended finance, and international cooperation.\n  - Panelists: Kristalina Georgieva; Ajay Banga; Mohamed Jameel Al Ramahi; Nadia Calviño. Moderator: Pilita Clark.\n  - Related IMF publications referenced: \"Policies to Foster Green FDI: Best Practices for Emerging Market and Developing Economies\"; \"Harnessing Renewables in Sub-Saharan Africa: Barriers, Reforms, and Economic Prospects\"; \"Financial Sector Policies to Unlock Private Climate Finance in Emerging Market and Developing Economies, Chapter 3, October 2023 Global Financial Stability Report (GFSR)\".\n- November 14, 2024 — 4:00 PM - 4:45 PM (GMT+4)\n  - Session: \"Destination Net Zero: The Urgent Need for a Global Carbon Tax on Aviation and Shipping\"\n  - Focus: decarbonizing international transportation via a carbon tax and pricing instruments like feebates; policy options, implementation, and allocation of revenues for climate finance.\n  - Panelists: Morten Bo Christiansen; Marie Owens Thomsen; Tom Evans. (One panelist listed as Deputy Director, Fiscal Affairs Department, IMF.)\n- November 15, 2024 — 9:00 AM - 9:45 AM (GMT+4)\n  - Session: \"The Pioneering Role of IMF’s Resilience and Sustainability Trust (RST) in Climate Action\"\n  - Focus: RST’s Resilience and Sustainability Facility (RSF) provides affordable longer-term financing for structural challenges including climate change and pandemics; early assessment indicates a positive impact on progression of reforms.\n  - Key statistics: the Fund has approved 20 arrangements with total commitments of more than $9.5 billion.\n  - Panelists: Bo Li; Franz Tattenbach; Samba Thiam. Moderator: Simon Jessop.\n- November 15, 2024 — (time unspecified in schedule block)\n  - Session: \"Bridging the Adaptation Financing Gap: Challenges and Potential Solutions\"\n  - Focus: scaling up adaptation financing for EMDEs, enhancing partnerships to attract private capital for adaptation investments; EMDEs disproportionately affected and need significant investment in climate resilience.\n  - Panelists: Rania Al Mashat; Tracy Kajumba. Moderator: Anca Gurzu.\n- November 16, 2024 — (time unspecified in schedule block)\n  - Session: \"Measuring Climate Risks for Smarter Adaptation and Mitigation Solutions\"\n  - Focus: building an internationally accepted framework for measuring physical and transition risks; using risk indicators to assess vulnerabilities and guide policy and adaptation strategies.\n  - Panelists: Shahin Mahmuzade; Jadwiga Massinga; Stephane Hallegatte; Alessandra Alfieri. Moderator: Professor Matthew Agarwala."
    },
    {
      "heading": "Key findings and analytical emphasis",
      "content": "- Urgency and target-setting\n  - Early next year, all countries will set new emissions targets for 2035 while revising their 2030 targets.\n  - Current Nationally Determined Contributions only reduce global emissions by one quarter of what’s needed.\n  - Further delay risks an “emissions cliff edge,” implying implausible cuts after 2030 and jeopardizing the 1.5°C target.\n- Financing and reform priorities for EMDEs\n  - Delivering on global climate goals requires shifting to renewable energy and green technologies, with FDI and official lending crucial where fiscal space and financial development are limited.\n  - Market reforms and financial sector policies can attract official financing and FDI for low-carbon technologies.\n  - Domestic policies that enhance government revenue are part of financing strategies for renewable energy investments.\n  - Instruments and structures highlighted as catalytic: Just Energy Transition Partnerships, public-private partnerships, blended finance, and international cooperation.\n- Adaptation finance and resilience\n  - EMDEs face disproportionate impacts and need significant increases in adaptation finance at a time of constrained development financing.\n  - The IMF’s RSF provides affordable longer-term financing aimed at structural reforms; initial evidence suggests positive reform progression.\n  - Scaling partnerships among public institutions, private sector, and civil society is central to mobilizing private capital for adaptation.\n- Measurement and risk assessment\n  - Increasing frequency and severity of extreme events and rising transition risks necessitate timely risk assessments that look ahead.\n  - A global framework for measuring both physical and transition risks can help assess country vulnerabilities and guide resilient policy design."
    },
    {
      "heading": "Policy implications and recommendations (as emphasized in sessions)",
      "content": "- Raise global ambition now to avoid an “emissions cliff edge” and to keep the 1.5°C target within reach.\n- Implement market and financial sector reforms to attract official financing and private FDI for low-carbon technologies in EMDEs.\n- Use revenue from carbon pricing (including a global carbon tax on aviation and shipping or feebates) to finance climate action.\n- Scale up the Resilience and Sustainability Facility to provide affordable longer-term financing that supports climate adaptation and mitigation reforms.\n- Develop and adopt internationally accepted frameworks and indicators for measuring physical and transition climate risks to inform policy and investment decisions.\n- Strengthen cross-sector partnerships—including Just Energy Transition Partnerships, blended finance, and public-private collaboration—to catalyze renewable energy and adaptation investments."
    },
    {
      "heading": "IMF climate data and publications tools",
      "content": "- The IMF's Climate Change Indicators Dashboard provides standardized, comparable data for macroeconomic and financial stability analysis to assess linkages between economic/financial activities, government policies, and climate/environmental variables on a country-level or cross-country basis."
    }
  ],
  "bullets": [
    "The IMF is sharing a pavilion at COP29 in Baku, Azerbaijan, with the World Bank Group and the Financial Times to create opportunities for dialogue and knowledge sharing.",
    "The IMF will promote economic and financial sector policies to help members and the wider international community reach shared climate goals such as:",
    "November 12, 2024 — 10:00 AM - 10:45 AM (GMT+4)",
    "November 12, 2024 — 5:00 PM - 5:45 PM (GMT+4)",
    "November 12, 2024 — 6:15 PM - 7:00 PM (GMT+4)",
    "November 14, 2024 — 4:00 PM - 4:45 PM (GMT+4)",
    "November 15, 2024 — 9:00 AM - 9:45 AM (GMT+4)",
    "November 15, 2024 — (time unspecified in schedule block)",
    "November 16, 2024 — (time unspecified in schedule block)",
    "Urgency and target-setting",
    "Financing and reform priorities for EMDEs",
    "Adaptation finance and resilience",
    "Measurement and risk assessment",
    "Raise global ambition now to avoid an “emissions cliff edge” and to keep the 1.5°C target within reach.",
    "Implement market and financial sector reforms to attract official financing and private FDI for low-carbon technologies in EMDEs.",
    "Use revenue from carbon pricing (including a global carbon tax on aviation and shipping or feebates) to finance climate action.",
    "Scale up the Resilience and Sustainability Facility to provide affordable longer-term financing that supports climate adaptation and mitigation reforms.",
    "Develop and adopt internationally accepted frameworks and indicators for measuring physical and transition climate risks to inform policy and investment decisions.",
    "Strengthen cross-sector partnerships—including Just Energy Transition Partnerships, blended finance, and public-private collaboration—to catalyze renewable energy and adaptation investments.",
    "The IMF's Climate Change Indicators Dashboard provides standardized, comparable data for macroeconomic and financial stability analysis to assess linkages between economic/financial activities, government policies, and climate/environmental variables on a country-level or cross-country basis."
  ],
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  "generatedAtUtc": "2026-10-01T18:05:38.278Z"
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